Malaysia to Cap Fuel Subsidy Quotas as Ringgit Gains, Tech Sector Advances

KUALA LUMPUR, Aug 25 — Finance Minister II Datuk Seri Amir Hamzah today said the government will introduce a capped quota for eligible individuals under the upcoming RON95 fuel subsidy rationalisation plan, with special provisions for p-hailing and e-hailing drivers.

In a boost for Malaysia’s technology ambitions, local chipmaker SkyeChip unveiled the MARS1000, the nation’s first homegrown edge AI processor, aimed at powering smart cities, agriculture, and Industry 4.0.

Fuel Subsidy

Meanwhile, the ringgit strengthened, testing 4.20 against the US dollar after overnight greenback weakness, though gains later consolidated. Ringgit government bonds saw modest bargain-hunting, while corporate flows favoured high-grade papers.

Oil prices climbed to multi-week highs on fears of Russian supply disruptions, supporting regional commodity sentiment.

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